- EUR/KRW is currently trading around 1,307 mark.
- Pair made intraday high at 1,309 and low at 1,307 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1,315 mark.
- A sustained close above 1,315 will take the parity higher towards key resistances around 1,327, 1,338, 1,358 and 1,380 marks respectively.
- On the other side, a daily close below 1,300 will drag the parity down towards key supports around 1,290, 1,282, 1,277, 1,267, 1,258, 1,246 and 1,234 marks respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Seoul shares open up 0.81 pct.
- Korea, South Aug 2018 export price growth yy decrease to 2.1 % vs previous 2.8 % (revised from 2.6 %).
- Korea, South Aug 2018 import price growth yy decrease to 10 % vs previous 11.9 % (revised from 12.2 %).
We prefer to take long position on EUR/KRW only above 1,310, stop loss at 1,300 and target of 1,327.
